In a serious setback to Infosys, known for its ethical way of conducting business, an arbitration tribunal has directed the tech major to pay an outstanding exit allowance of Rs 12.17 crore with interest to its former CFO Rajiv Bansal (in pic).
Technology has greatly bypassed time, distances and processes and allowed things to happen in real-time and instantaneously!
Nobody has the patience to wait for anything today as technology is capable of offering instant gratification or real-time access to services, products, things, data and contacts. And what was acceptable few years ago, in terms of delay and wait, is not more acceptable today.
India has been enthusiastically embracing digital commerce with open arms and as a result the country is expected to witness a huge surge in on-line buying in the next five years.
The rupee tumbling against the greenback may bring some respite to the Indian tech sector as a major chunk of the industry’s revenues still come from the United States. The currency’s downward str-ide comes at a critical time when the legacy IT is shrinking and the entire business is getting commoditised. The benefit of rupee fall will help domestic tech players which are navigating through these tough times, say observers.
The rupee on Thursday fell below 72-mark for the first time ever against the US dollar before ending the day’s trade at 71.99.
The recent deluge has altered the spice route of the country with torrential rains heavily lashing and bashing the spice gardens of Kerala and Karnataka.
Karnataka is the largest producer of pepper, followed by Kerala, and the states have incurred huge losses as floods washed away pepper wines from thousands of hectares of land. As a result, next year’s pepper production will be down by 40 per cent, say market watchers.
India produces some 75,000 tonnes of pepper annually of which Karnataka alone accounts for 70 per cent while Kerala has a share of some 25,000 tonnes.
The country’s oldest public sector undertaking, ITI Ltd, has roped in a bunch of start-ups to create a tech ecosystem to support its second coming and sustain its future growth.
Wipro Limited has won its largest-ever single deal. The tech major bagged a 10-year contract from Illinois-based Alight Solutions LLC, the company said on Sunday. The deal will bring revenues in the range of $1.5 billion to $1.6 billion for the company over the next 10 years.
Clearly, this is Wipro’s largest win to date. In 2014, it signed a $1.1 billion outsourcing deal with a Canadian logistics firm ATCO for 10 years that will be ending in 2024.
Social Venture Partners India — a collaborative venture started and supported by professionals, businessmen and active partners who are willing to devote time and energies in terms of mentorship, technology and funds — is working towards creating one million sustainable new jobs in the country by 2022.
Rebuilding of Kerala will require an extraordinarily large sum. It could be a minimum of Rs 50,000 crore or much more than that. The state government is currently in the process of assessing the cumulative damage, which is a tough exercise, as the floods, torrential rains and landslides have thrashed and destroyed the very foundations of the state, lamented E Chandrasekharan, Kerala minister for Revenue and Housing.
The unprecedented flood has left a trail of death and destruction in God’s own country. It is still early to get the full measure of the massive losses. The much-vaunted tourism lies in tatters. Famed tourist spots Munnar, Wayanad and Allapuzha are still under water. Backwater properties, arguably the face of Kerala tourism, are all shut. Given the intensity of the devastation, it is a long, long road ahead.